The Awards Evaluation Criteria

Best Innovation Centre Award
Belief Statement
A successful innovation centre is the one that is designed and created to speed up work on disruptive and innovative products and technologies, towards executing effective innovation programmes for financial services industry, with the aim to help the institution be successful both with its clients and employees. The key achievements of the innovation programme, size and complexity of technology initiatives, creative thinking, success in implementing live projects and the performance indicators that demonstrate the impact of these initiatives on the business are important considerations in evaluation.

Innovation lab facility 10%
  • Time since launch
  • Size and facility of the centre
  • Key features of the centre
Activities at the innovation lab/centre 20%
  • Product development activities
  • Number and details of completed projects
  • Number and details of ongoing projects
  • Marketing activities
  • Co-creation activities
Innovation initiatives 20%
  • Number and details of activities in the year under review
  • Key objectives of these initiatives
  • Number of new products/technologies developed
Other activities 10%
  • Number and details of showcase events in the year
  • Number of hackathons, incubation, fintech partnerships
  • Number of companies that participated in the event
Key performance indicators 20%
  • Number and details of new prototypes developed in the year
  • KPI/Impact of each prototype on business
  • Growth in revenue from new products
  • Growth in customer satisfaction
  • Growth in number of customers
  • Reduction in operational cost
  • Time saving
Financials 10%
  • Budget for the innovation lab
  • Justification for the budget
Manpower 10%
  • Number of employees at the centre
  • Qualification and experience of employees
  • Impact on the organisation culture

Please note that technology companies that do not have “live” projects will not qualify for the award. The country level award will only be given for selected countries.
Related Events
Important Links
The Bank Technology Monitor
Award Winners 2018
Photo Gallery 2014

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